Millennium Management LLC Cuts Stake in UDR, Inc. (NYSE:UDR)

Millennium Management LLC lessened its stake in UDR, Inc. (NYSE:UDR) by 42.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,979,029 shares of the real estate investment trust’s stock after selling 1,435,481 shares during the quarter. Millennium Management LLC’s holdings in UDR were worth $85,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in UDR by 68.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 491 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of UDR by 62.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 520 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in UDR in the 4th quarter worth approximately $63,000. Eastern Bank bought a new position in UDR in the 4th quarter valued at approximately $68,000. Finally, Crews Bank & Trust bought a new position in UDR in the 4th quarter valued at approximately $76,000. Institutional investors own 97.84% of the company’s stock.

Insider Buying and Selling at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the completion of the sale, the chief executive officer now owns 824,716 shares in the company, valued at approximately $35,256,609. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.39% of the company’s stock.

UDR Trading Down 1.3%

UDR stock opened at $41.12 on Thursday. UDR, Inc. has a 12-month low of $36.61 and a 12-month high of $47.55. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 164.48, a P/E/G ratio of 8.67 and a beta of 0.84. The firm has a 50 day moving average of $42.28 and a 200 day moving average of $42.96. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71.

UDR (NYSE:UDR) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $419.84 million during the quarter, compared to analysts’ expectations of $421.23 million. UDR had a net margin of 5.36% and a return on equity of 2.65%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, research analysts predict that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from UDR’s previous quarterly dividend of $0.43. UDR’s dividend payout ratio is presently 491.43%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Zelman & Associates reissued a “neutral” rating on shares of UDR in a report on Thursday, February 13th. Scotiabank lifted their price objective on UDR from $48.00 to $49.00 and gave the stock a “sector perform” rating in a report on Friday, February 14th. Barclays upped their target price on shares of UDR from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Truist Financial lowered shares of UDR from a “buy” rating to a “hold” rating and lifted their price target for the stock from $45.00 to $46.00 in a research note on Monday, March 10th. Finally, Evercore ISI boosted their price objective on shares of UDR from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.69.

About UDR

UDR, Inc (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted U.S.